A firm reported salary expense of $239,000 for the current year. The beginning and ending balances in salaries payable were $40,000 and $15,000, respectively. What was the amount of cash paid for salaries?A. $214,000.B. $289,000.C. $264,000.D. $239,000.

C. $264,000

Explanation:

The computation of the amount of cash paid for salaries is shown below

= Opening balance of salaries payable + salary expense - closing balance of salaries payable

= $40,000 + $239,000 - $15,000

= $264,000

Hence, the amount of cash paid for salaries is $264,000

Therefore the correct option is c.

We simply applied the above formula so that the correct value could come

And, the same is to be considered

turnover

the amount of money taken by a business in a particular period.

answer; read and consider the content of the items;